Budget 2023

2023 - 2 - 13

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Image courtesy of "CNA"

Commentary: Budget 2023 will have to walk a tightrope of ... (CNA)

Budget 2023 will have to walk a tightrope between helping households manage the rising cost of living and sustainable spending. Singapore must grow the ...

Singapore’s 2022 GDP growth is expected to reach 3.8 per cent year-on-year, within range of the official forecast. Singapore will have to stay attractive if it is to grow the economic pie and make the vision of a new social compact reality. The overall unemployment rate improved to 2.0 per cent in the fourth quarter of 2022, overtaking the pre-pandemic 2019 average of 2.2 per cent. Moreover, the projected revenue growth is not expected to be sufficient to cover the increasing spending needs over the coming years. This would ensure lifetime employability, career longevity and competitive firms. Budget 2023 will have to walk a tightrope between helping households manage the rising cost of living and sustainable spending. The International Monetary Fund (IMF) also upgraded its 2023 global growth forecast for the first time in more than a year. This would mark the first overall budget surplus since 2019 before the COVID-19 pandemic, implying some normalisation of fiscal finances. A Singapore Business Federation survey saw companies citing wages as their top cost challenge. Still, 40 per cent of respondents planned to raise salaries. Singapore’s core inflation has Advertisement

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Image courtesy of "The Straits Times"

Budget 2023: Global headwinds mean Singapore policymakers will ... (The Straits Times)

The Government will likely tread carefully, with a small 0.1 per cent overall budget deficit, says one analyst. Read more at straitstimes.com.

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Image courtesy of "CNBC"

Singapore's budget expected to focus on inflation and support for ... (CNBC)

Rising inflation and layoffs are among the top concerns of Singaporeans. The 2023 budget will be delivered by Deputy Prime Minister and Minister for Finance ...

Preliminary data estimated there could be 3,000 layoffs in the fourth quarter of 2022. 21 provided higher subsidies for the progressive wage credit scheme and an energy efficiency grant, which provides up to 70% support for local small and medium-sized enterprises facing increasing energy prices. "Singapore may need to shift away from traditional tax incentives and consider other measures in order to promote investments. For 2022, core inflation averaged 4.1% – higher than the 0.9% recorded in 2021. This year's budget announcement is expected to include more details on the enhancements. Previously, the The Helping households cope with rising inflation [expects "core inflation to stay elevated in the first half of this year before slowing more discernibly in H2 2023](https://www.mas.gov.sg/-/media/mas/epg/cpd/2022/inflation202212.pdf) as the current tightness in the domestic labour market eases and global inflation moderates." The government Wong said the Rising inflation and layoffs are among the top concerns for Singaporeans and are expected to be addressed in Singapore's budget for 2023.

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Image courtesy of "Malay Mail"

All eyes on Budget 2023 as PM Anwar faces first economic acid test ... (Malay Mail)

KUALA LUMPUR, Feb 13 — The second session of the 15th Parliament begins today amid growing public anxiety over soaring prices of goods, with Prime Minister ...

It is unclear whether Anwar would agree to the idea. Anwar, who vowed to make the living cost issue a top priority upon taking office, currently enjoys a 68 per cent approval rating, according to a poll by Merdeka Center. Anwar recently suggested dedicating a few hours for Dewan Rakyat members to direct questions to the prime minister, and another few more for ministers.

Budget 2023 needs to focus on private sector investment issues in ... (The Borneo Post)

Chief economist Suhaimi Ilias said more private investments are needed to ensure Malaysia is able to generate more encouraging investment activities to increase ...

Therefore, I think this will be one of the priority issues,” he said. even if the goods are under price control, we still face the problem of insufficient supply. “The way I see it, this is one of the best ways to deal with the issue of inflation in the long term, which is to increase income,” he told reporters after the Retail Equity Market Outlook briefing.

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Image courtesy of "The Business Times"

A 'People's Budget' that will almost certainly be expansionary (The Business Times)

THERE were two developments last week that will shape Deputy Prime Minister and Finance Minister Lawrence Wong's Budget Statement to be delivered on Tuesday ...

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Image courtesy of "The Straits Times"

Budget 2023 to focus on moving forward post-Covid-19, says DPM ... (The Straits Times)

SINGAPORE - This year's Budget will focus on moving forward post-Covid-19, said Deputy Prime Minister Lawrence Wong on Monday. In a Facebook post, the Finance ...

The panel will be moderated by ST associate editor Vikram Khanna. “The road ahead will not be easy. “We have pulled together to weather the crisis of a generation. [The Straits Times Budget 2023 microsite](https://www.straitstimes.com/budget-2023) after the discussion. [the Forward Singapore ](https://www.straitstimes.com/singapore/over-14000-engaged-in-forward-singapore-next-phase-to-delve-into-issues-and-solutions-dpm-wong)nationwide consultation [exercise.](https://www.straitstimes.com/singapore/over-14000-engaged-in-forward-singapore-next-phase-to-delve-into-issues-and-solutions-dpm-wong) [will be delivered in Parliament on Tuesday at 3.30pm.](https://www.straitstimes.com/singapore/dpm-lawrence-wong-to-deliver-budget-speech-at-330pm-on-feb-14)

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Image courtesy of "The Business Times"

Seven things to look out for in Budget 2023 (The Business Times)

DEPUTY Prime Minister and Finance Minister Lawrence Wong will deliver the 2023 Budget Statement on Feb 14, with economists expecting a return to prudence ...

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Image courtesy of "CNA"

Budget 2023 to set out how Singapore can secure its prospects in a ... (CNA)

In a Facebook post, Mr Wong said that the Budget, themed "moving forward in a new era", will help Singaporeans seize new opportunities, strengthen the nation's ...

Mr Wong launched Forward Singapore in June 2022 shortly after he took on the role of Deputy Prime Minister. "The road ahead will not be easy. The plans will be announced in the Budget statement.

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Image courtesy of "Mothership.sg"

Lawrence Wong to deliver 2023 Budget Statement on Feb. 14 (Mothership.sg)

Deputy Prime Minister Lawrence Wong will deliver Singapore's 2023 Budget Statement on Feb. 14 in Parliament. This will be Wong's second Budget Statement and his ...

The 2023 Budget will be about "moving forward in a new era", Wong wrote in a Feb. "But through our collective efforts, and the trust we have in each other, I am confident that we will strive and secure a better tomorrow for all, and for our future generations." The statement will be broadcast live on television and published in full on the Singapore Budget

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Image courtesy of "CNA"

Singapore families hope Budget 2023 can help ease cost of living ... (CNA)

From newly-married couples to bigger families, rising costs is one issue that ranked high among those who spoke to CNA.

I've seen a lot of Build-to-Order (BTO) projects coming in at prices of S$500,000, S$600,000. "The CDC vouchers are per household, and it is a limited amount. “All these are quite a challenge to support what is necessary for us. Advertisement

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Image courtesy of "The Straits Times"

Budget 2023: What to look out for, amid Forward Singapore movement (The Straits Times)

The Singapore Budget 2023 is set to boost the ongoing Forward Singapore national conversation. Read more at straitstimes.com.

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Image courtesy of "CNA"

Commentary: My wish for Budget 2023 - more paternity and ... (CNA)

Budget 2023 is expected to provide more support for parents to manage the pressures of raising children. CNA's Charlene Tan explores whether more paternity ...

[stepping up measures](https://www.channelnewsasia.com/singapore/government-step-support-parents-raising-children-pm-lee-3220011) to support parents and help manage the pressures of raising children. Concerns about a stressful education system and the academic pathway to success also give rise to parental anxieties. Removing the binary decision between work and family could also pave the way for more women leaders who benefited from such arrangements to lead with empathy. [financial cost was the top reason](https://www.channelnewsasia.com/singapore/marriage-couples-children-dating-singapore-population-survey-2999056) cited by married respondents for not wanting any or more children, according to the 2021 Marriage and Parenthood survey. HR experts agree that flexi-work remains important in the current tight labour market, but parents stay parents even it shifts to an employers’ market. Parents are currently entitled to six days of childcare leave a year. But with pre-schools also having up to six days of planned annual closures a year, childcare leave is very quickly used up. It sets the foundation for fathers to take on more equal duties subsequently. South Korea broke its own record for the [world’s lowest fertility rate](https://www.channelnewsasia.com/asia/south-korean-government-proposes-flexible-overtime-rules-some-fear-workers-may-suffer-3216581) in 2021, with just 0.81 child per woman. The cash payouts and Government matching on Child Development Account contributions have helped my family offset months of full-time infant care. In no less stark terms, Singapore Prime Minister Lee Hsien Loong said in 2019 that the country must make enough babies to “secure our future”. We had already been married six years then and I was old enough to have what is sometimes called a “geriatric pregnancy”.

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Image courtesy of "Perspectives@SMU"

A 'People's Budget' that will almost certainly be expansionary (Perspectives@SMU)

In a commentary, SMU Associate Professor of Law Eugene Tan discussed the two developments that would shape Deputy Prime Minister and Finance Minister ...

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Image courtesy of "Singapore Business Review"

LIVE UPDATES: Singapore Budget 2023 (Singapore Business Review)

Singapore Business Review is tracking developments from Singapore's 2023 budget statement live as they are announced by Finance Minister Lawrence Wong. In a ...

In a Facebook post, Wong said the will be about “Moving Forward in a New Era.” Finance Minister Lawrence Wong said the budget will be about “Moving Forward in a New Era.” “The Budget sets out how we will secure our prospects in a troubled world — to help Singaporeans seize new opportunities, to strengthen our social compact and give assurance for families, while we build our collective resilience as one people,” he wrote.

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Image courtesy of "The Online Citizen SG"

Recap of Worker's Party's 10 key policy suggestions ahead of ... (The Online Citizen SG)

SINGAPORE — The Budget 2023 will be delivered by Deputy Prime Minister Lawrence Wong in Parliament today at 3.30 pm. Ahead of the announcement of the budget ...

WP called on Parliament to acknowledge a climate emergency in 2021. The proposed legislation must provide stringent penalties against employment discrimination on the basis of race, gender, sexuality and age. Higher quantums could be disbursed, conditional on their commitments to positive behaviours such as going for health screenings. WP says that its redundancy insurance proposal, raised in Parliament in 2017, is a responsible way to do this. Housing expenditure is a major cost for many Singaporeans. There is no worse time to raise the GST than this present moment when ordinary families are struggling to make ends meet.

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